exclusive offering - EXP Realty Advisors

REPRESENTATIVE PHOTO
EXCLUSIVE OFFERING | $1,149,000
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
214.915.8890
BOB MOORHEAD
bob@exp1031.com
JOE CAPUTO
joe@exp1031.com
RUSSELL SMITH
russell@exp1031.com
property. 2,592 SF+ building originally built in 1984 on 0.41+ acres. Fully renovated in 2014.
tenant. Chicago-based PLS Financial Services, Inc., 3,000+ employees & 300 financial service centers in CA, IL, IN, MS, NY, TX and WI.
lease structure. New 10-year net lease beginning in August 2014.
location. The subject property is located at the intersection of S. Cooper Street (51,720 Cars / Day) and SW Green Oaks Blvd (21,304 Cars / Day) in a heavy
retail and dense residential area of Arlington, TX. I-20 (176,053 Cars / Day) is just 1-mile north of the site; playing a prominent role in development and growth to
the region, I-20 serves as an arterial east-west Interstate Highway. Due to the accessibility and location of the trade area, many national credit tenants have
developed throughout. National credit tenants in the immediate trade area include Walmart, Tom Thumb, Kroger, Kohl’s, Ross, Payless Shoe Source, Sports
Authority, Dollar Tree, Office Max, Mattress Firm, Home Depot, McDonald’s, Panda Express, Chipotle, and several others. The Parks at Arlington Mall (1.5 million
sf) features over 160+ tenants and is located 1.5-miles north of the subject property. The population within a 5-mile radius is projected to grow by 7.58% over the
next 5-year period ending in 2019.
Table of contents | Disclaimer
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
PAGE 1:
COVER
PAGE 2:
TABLE OF CONTENTS | DISCLAIMER
PAGE 3:
INVESTMENT | TENANT | LEASE OVERVIEW
PAGE 4-5:
AERIAL PHOTOS
PAGE 6:
SITE PLAN
PAGE 7:
LOCATION OVERVIEW
PAGE 8-9:
LOCATION MAPS
PAGE 10:
DEMOGRAPHICS
Disclaimer
EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the
property located at 5400 S. Cooper Street, Arlington, TX by the owner of the Property
(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller
and Agent make no representations or warranties as to the accuracy of the information
contained in this Offering Memorandum. The enclosed materials include highly confidential
information and are being furnished solely for the purpose of review by prospective
purchasers of the interest described herein. The enclosed materials are being provided
solely to facilitate the prospective investor’s own due diligence for which it shall be fully and
solely responsible. The material contained herein is based on information and sources
deemed to be reliable, but no representation or warranty, express or implied, is being made
by Agent or Seller or any of their respective representatives, affiliates, officers, employees,
shareholders, partners and directors, as to the accuracy or completeness of the information
contained herein. Summaries contained herein of any legal or other documents are not
intended to be comprehensive statements of the terms of such documents, but rather only
outlines of some of the principal provisions contained therein. Neither the Agent nor the
Seller shall have any liability whatsoever for the accuracy or completeness of the
information contained herein or any other written or oral communication or information
transmitted or made available or any action taken or decision made by the recipient with
respect to the Property. Interested parties are to make their own investigations, projections
and conclusions without reliance upon the material contained herein. Seller reserves the
right, at its sole and absolute discretion, to withdraw the Property from being marketed for
sale at any time and for any reason. Seller and Agent each expressly reserves the right, at
their sole and absolute discretion, to reject any and all expressions of interest or offers
regarding the Property and/or to terminate discussions with any entity at any time, with or
without notice. This offering is made subject to omissions, correction of errors, change of
price or other terms, prior sale or withdrawal from the market without notice. Agent is not
authorized to make any representations or agreements on behalf of Seller. Seller shall
have no legal commitment or obligation to any interested party reviewing the enclosed
materials, performing additional investigation and/or making an offer to purchase the
Property unless and until a binding written agreement for the purchase of the Property has
been fully executed, delivered, and approved by Seller and any conditions to Seller’s
obligations hereunder have been satisfied or waived. By taking possession of and
reviewing the information contained herein, the recipient agrees that (a) the enclosed
materials and their contents are of a highly confidential nature and will be held and treated
in the strictest confidence and shall be returned to Agent or Seller promptly upon request;
and (b) the recipient shall not contact employees or tenants of the Property directly or
indirectly regarding any aspect of the enclosed materials or the Property without the prior
written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be
copied or otherwise reproduced without the prior written authorization of Seller and Agent.
Investment overview | TENANT OVERVIEW
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
Lease overview
PRICE:
$1,149,000
Initial Lease Term:
10-Years, Plus 3, 5-Year Options to Renew
Rent Commencement:
August 2014
NET OPERATING INCOME:
$77,550
BUILDING AREA:
2,592+ Square Feet
Lease Expiration:
August 2024
LAND AREA:
0.41+ Acres
Lease Type:
Net
YEAR BUILT | RENOVATED:
1984 | 2014
Rent Increases:
10% in Lease Year 6 & Every Option Period
LANDLORD RESPONSIBILITY:
Roof & Structure
Year 1-5 Annual Rent (Current):
$77,550
OWNERSHIP:
Fee Simple Interest
Year 6-10 Annual Rent:
$85,305
Year 11-15 Annual Rent (Option 1):
$98,836
OCCUPANCY:
100%
Year 16-20 Annual Rent (Option 2):
$103,219
Year 21-25 Annual Rent (Option 3):
$113,451
* Note: Deed Restrictions – No Convenience Store, Fuel Sales, or Coffee Sales.
Tenant overview
LESEE: PLS CHECK CASHIERS OF TEXAS, L.P., a Texas limited Partnership
PLS CHECK CASHERS | www.plshome.com
Chicago-based PLS Financial Services, Inc., manages more than 300 financial service centers in California, Illinois, Indiana,
Mississippi, New York, Texas and Wisconsin, with more than 3,000 employees. PLS is one of the largest, fastest growing and
most distinguished organizations in the check cashing industry, and is a Western Union money transfer agent.
PLS is listed among Inc. magazine’s “5000 Fastest-Growing Private Companies in America,” and has been named one of
Chicago’s “101 Best and Brightest Companies to Work For” by the National Association of Business Resources. In 2008, 2009
and 2010, PLS was named one of Chicago’s Largest Privately Held Companies by Crain's Chicago Business, and was a member
of Crain's “Fast 50” (Fastest Growing Companies) in 2008 and 2009. The company has also been honored with the Activa Award
from the Financial Service Centers of America (FiSCA) in recognition of its charitable efforts.
The PLS brand includes PLS Loan Store, PLS Check Cashers, PLS Motor Vehicle Services, and PLS realty.
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Aerial photograph
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
W Bardin Rd (16,842 Cars / Day)
Alamo Mini
Storage
Harold Patterson
Sports Center
Wimbledon Park
The Church on
Rush Creek
St. John The
Apostle Church
SW Green Oaks Blvd (21,304 Cars / Day)
Cornerstone
Baptist
Church
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Aerial photograph
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
St. John
The
Apostle
Church
SW Green Oaks Blvd (21,304 Cars / Day)
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SITE PLAN
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
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LOCATION OVERVIEW
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
IMMEDIATE TRADE AREA
The subject property is located at the intersection of S. Cooper Street (51,720
Cars / Day) and SW Green Oaks Blvd (21,304 Cars / Day) in a heavy retail and
dense residential area of Arlington, TX. Within a 5-mile radius of the site, the
population is 307,482 people. Cooper Road is a major north-south
thoroughfare that serves a majority of the northbound and southbound traffic in
the region due to its centrality and its accessibility to major interstates in
Arlington, while SW Green Oaks Blvd serves the south Arlington region as a
prominent east-west passageway. I-20 (176,053 Cars / Day) is just 1-mile
north of the site; playing a prominent role in development and growth to the
region due to its functionality as an arterial east-west Interstate Highway.
Due to the accessibility and location of the trade area, many national credit
tenants have developed throughout. National credit tenants in the immediate
trade area include Walmart, Tom Thumb, Kroger, Kohl’s, Ross, Payless Shoe
Source, Sports Authority, Dollar Tree, Office Max, Mattress Firm, Home Depot,
Ashley Furniture, Rooms To Go, Vitamin Shoppe, McDonald’s, Panda Express,
Chipotle, Taco Bell, Sonic, Wing Stop, Schlotzsky’s, and several others. The
site is located 1.5-miles south of the Parks at Arlington Mall (1.5 million sf)
which features over 160+ tenants and is anchored by Macy’s, Dillard’s,
Jcpenny, Sears, AMC Theatres, Barnes & Noble, and Dick’s Sporting Goods.
The population within a 5-mile radius is projected to grow by 7.58% over the
next 5-year period ending in 2019.
ARLINGTON, TX
Arlington is a suburb of Fort Worth, TX and has a population of 374,000
making it the 3rd largest city in the Dallas-Fort Worth Metroplex and the 15th
largest in the state of Texas.
Entertainment and recreation play a significant role in the city’s economy.
Arlington is home to Six Flags Over Texas, a nation-wide theme park that
includes many notable attractions. Six Flags also opened Six Flags Hurricane
Harbor, a waterpark, after the previous location, Wet 'n Wild, was sold to them
in the mid 90's. For retail shopping, Arlington is home to The Parks Mall at
Arlington, which houses numerous retail outlets and a movie theatre. In
addition, The Arlington Highlands was completed in mid-2007, serving as an
entertainment hotspot with places such as Studio Movie Grill, Piranha Killer
Sushi, BJ's Brewhouse, The Improv Theatre, Blackfinn, Plucker's, World
Market, and Dave and Busters, among others. Arlington is also home to the
Dallas Cowboys and Texas Rangers.
Cowboys Stadium, which was completed in 2009 has a seating capacity of
105,000. Cowboys Stadium is next to Rangers Ballpark in Arlington (48,114
Seats) which hosts the Texas Rangers.
Arlington is also the home of the 33,439-student University of Texas at
Arlington (UTA). In the fall of 2010, UTA reached a student population of
32,956, a gain of 31% from autumn 2008, and is currently the second-largest
institution within the UT System. UTA is classified by the Carnegie Foundation
as a "High Research Activity" institution. The university offers 80
baccalaureate, 74 masters, and 31 doctoral degrees.
DALLAS-FORT WORTH-ARLINGTON MSA
The Dallas–Fort Worth–Arlington Metropolitan Statistical Area (MSA), also
frequently referred to as the Dallas-Fort Worth Metroplex encompasses 12
counties within the U.S. state of Texas. It is the economic and cultural hub of
the region commonly called North Texas or North Central Texas and is the
largest land-locked metropolitan area in the United States.
The 2010 U.S. Census has the Dallas-Fort Worth Metroplex population at
6,371,773. During the 12-month period from July 2008 to July 2009, the DallasFort Worth-Arlington metropolitan area gained 146,530 new residents, more
than any other metropolitan area in the United States. The area's population
has grown by about 1 million since the last census was administered in 2000.
The Dallas–Fort Worth–Arlington MSA is, by population, the largest
metropolitan area in Texas, the largest in the South, the 4th largest in the
United States, and the 10th largest in the Americas. The metropolitan area has
the 6th largest gross metropolitan product (GMP) in the United States, and
approximately 10th largest by GMP in the world.
Dallas and its suburbs have one of the highest concentrations of corporate
headquarters in the United States. As such, one of the largest industries in the
Metroplex is conducting business. The Metroplex also contains the largest
Information Technology industry base in the state (often referred to as Silicon
Prairie or the Telecom Corridor), due to the large number of corporate IT
projects and the presence of numerous electronics, computing and
telecommunication firms such as Texas Instruments, HP Enterprises Services,
Dell Services, i2, AT&T, Ericsson, CA and Verizon in and around Dallas. On
the other end of the business spectrum, and on the other side of the Metroplex,
the Texas farming and ranching industry is based in Fort Worth. Several major
defense manufacturers, including Lockheed Martin, and Raytheon, maintain
significant operations in the Metroplex. ExxonMobil, the #1 corporation on the
Fortune 500 listings, is headquartered in Irving, Texas.
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LOCATION MAP
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
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LOCATION MAP
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
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DEMOGRAPHICS
PLS Check CASHERS
5400 S. Cooper Street, Arlington, TX
Demographic snapshot
Radius
1 Mile
3 Mile
5 Mile
2019 Projection
16,320
116,764
330,792
2014 Estimate
15,308
109,455
307,482
2010 Census
15,201
108,450
296,098
Growth 2014-2019
6.61%
6.68%
7.58%
Growth 2010-2014
0.70%
0.93%
3.84%
2019 Projection
5,789
40,195
114,937
2014 Estimate
5,436
37,712
106,905
2010 Census
5,425
37,524
103,296
Growth 2014 - 2019
6.49%
6.58%
7.51%
Growth 2010 - 2014
-2.24%
-1.79%
0.58%
3,288
27,661
72,944
Population:
Households:
Owner Occupied
2,148
10,051
33,961
2014 Avg Household Income
Renter Occupied
$77,207
$80,802
$77,269
2014 Med Household Income
$65,194
$67,676
$64,627
926
5,053
17,700
$25,000 - $50,000
1,188
8,231
23,514
$50,000 - $75,000
1,059
8,119
21,365
$75,000 - $100,000
866
6,393
17,424
$100,000 - $125,000
529
3,937
10,868
$125,000 - $150,000
371
2,233
6,377
$150,000 - $200,000
331
2,354
6,019
57
172
387
DALLAS, TX
2014 Households by Household Inc:
<$25,000
$200,000+
COWBOYS STADIUM, ARLINGTON, TX
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